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Last week the local "head washing" store around the corner from my house was mysteriously transformed. Previously it was a gloomy living room lit by the usual creepy pink lights, staffed by young women in white satin dresses who stared glumly at passers-by. Some of them embroidered while they waited. So much for life in the big city, and now they are gone, replaced by a selection of shoes gleaming under fluorescent lights. Sign of the downturn? Perhaps, but it's more likely they were pushed out by the Shanghai Expo's praetorian guard, the City Management Bureau. The people the City Management Bureau employs are, to my view, the underpaid, underqualified version of the municipal police - the mall security guards of China. Many of them are very young, and all of them surly. The most public part of their job is moving in on street stalls, noodle carts and balloon ...
31/12/2009
There wasn't much in 2009 that went well for the Capitalist Roader Fund. For the most part, we watched from the sidelines as the Shanghai Composite Index soared nearly 80% from...
21/12/2009
Yegor Gaidar, the architect of what might be called Russia's reform and opening, died last week near Moscow. As Boris Yeltsin's acting prime minister, he implemented the "shock...
14/12/2009
November’s property stats are in, and just look at that! Prices were up 5.7% year-on-year, extending from October’s rise of 3.9%, marking the sharpest rise in 16 mo...
11/12/2009
It's not often a good sign when the head of a company comes right out and tells you that price growth on his main product is entering bubble territory. That is precisely wha...
04/12/2009
The Shanghai Composite Index (SCI) is back up over 3,300 points (3,317.41, to be exact) thanks to strong manufacturing data and the Politburo's statement that macro policy for ...
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